to come back and given the geopolitical backdrop, that is something we'll have to see. vonnie: we are and say in special coverage of the st. petersburg economic forum where butter lamp couldn't just spoke. we are joined by anders, robert and william p we are very happy to have appeared we are going to alexis tsipras was the finance minister of greece. -- who is the finance minister of greece. alexis tsipras: we should reach success in our area and that is to create a multi-diverse economy. it has a big role to play and what we have been pursuing up to the global crisis of 2008 is

different from what it has been. in europe, it has been delusional at sometimes. we only relied on her neighbors -- our neighbors. however, the economical planet has shifted. there are new emerging forces that play a more important role geopolitically and economically. in general, i like to say that international relations are there with multi-polarity. the role of g-8 enhancing the importance of cooperating with asia. enhancing cooperation with these

countries is evidence of a new world shaping of the moment. the economic union and a new entity of the regional integration is potentially a very good example of such trends. this is an association that can produce new economic growth and provide for welfare of the country. anyway, the changes in themselves will not be around a more stable world. due to the old challenges like unemployment marginalization and our society, and crisis still exist as well as collapse of african regions.

at the moment, we have to take into account that the economic development centers are moving. they are shifting. we have to address all the challenges they are facing keeping that in mind. and is also relevant to the process of economic development. it is going to speed up. our company be -- will be a growing economy. that happened just before the crisis of 2008. as for europe and the western world, let me explain what's at stake at the moment. it is essential to carefully address the challenges that we are facing at the moment. we have to build the bridges for cooperating with other countries of the world. we don't have this to the old standards in building new world

around us. for sample, the crisis in ukraine is a new hotbed of instability in europe which is a very bad sign for international relations in general. for economic prosperity and corporation -- cooperation, what you are witnessing in the region is a process that might lead to the authorization, war, and imposing sanctions. this vicious circle has to be disrupted as soon as possible and diplomatic initiatives in this regard should be in place and referred to implementation of minsk agreements that have to be totally supported. our country and greece -- in greece is a geographical center that is a big crossroads of all those trends and crisis. greece still prefers --

preserves the status of instability in the region. we are a balkan country and meta-terror and income sure, but at the same time, we also work with western countries. we perceive ourselves as a bridge in the region and investment and trade hub. we are also a center for energy corporations and education area. we are at a crossroads of two comments. in this regard, we are definitely willing to benefit from our location and to participate as an au member. we also like to use our position as a springboard to also benefit from it. we will take every effort in order to achieve good results based on the cooperation that we happen enjoying with other countries.

russia is one of the most important partners for us, but also we work with the regional organizations. as all of you are aware we are at the moment at the center of a storm of a whirlpool. but you know, we live near the sea. we are not scared of storms and going into new series. we are ready to go to new seras in order to reach new, safe ports. the problem that we are facing now and our european partners are facing is in the process that i have described. the european union and greece is a member of the european union, should pursue its own path. the european union should go back to its initial principles of solidarity, justice and

social justice. assuring strict economic measures will lead us nowhere. the so-called "problem of greece was quote is not just a greece problem. it is a problem of the home -- whole european union. this is a problem that is deeply rooted in the structure of the european union. the question is whether the european union can once again become a development center in a region that will enjoy prosperity and solidarity whether the european union will also be a social solidarity hub or it will continue to pursue the path that will lead to a dead-end. the new emerging multiple world will definitely be based on a new order, but it will only be

beas on in ordered if it eliminates all the things inherited from the old world order. up till now, it has taken courage and accountability to take those decisions. we cannot continue the past. if we continue doing so, we will continue making the same mistakes again and again and we are doomed for failure. so the question is -- how to improve what we have to do in order to be successful? thank you. [applause] >> alexis tsipras of greece. brendan: this is life special coverage of the st. petersburg economic forum. that was alexis tsipras, prime minister of greece, speaking. ryan chilcote is that before. what i heard there was a prime minister of greece very much

speaking for his host in praise of what clinton has done and describing his country at the crossroads as a place that has lots of options. is that what you heard? ryan: i heard that and i heard him address the obvious, saying that his country is in the middle of extreme turbulence, but blaming the problem on the european union as much on greece. he also said that greece wants to be a hub for tourism and perhaps more tellingly, a hub for energy. greece is hopeful that it will become a hub for russian energy. russia provides a good chunk of western europe's energy. that may go through turkey and then through greece in the future. all that has to be approved by the european union. but the single biggest news during the greek prime minister speech without a doubt came from the ecb. we understand that the ecb has raised the ceiling for ela's.

that is the european central banks emergency liquidity program for greek banks and european banks in general. the big concern and all this is what is good to be happen when we fast forward to monday and athens opens for business and the greek banks open for business. where they even going to open? maybe there is a little bit less concern about that right now in the back of this news that we have just gotten out of the ecb. back to you. brendan: are ryan chilcote is in st. petersburg. look for live coverage of that special tonight as well at 8:00. we have hans nichols and luxembourg. hans come we just heard alexis tsipras speak in st. petersburg -- hans, we just heard alexis tsipras speak in st. petersburg. he said that greece is an energy hub that supplies the contents.

is he trying to tell the people of luxembourg that he has options? hans: he may be hinting at that, but he never really commits. that is a sin as far as the european union is concerned as far as russia. what i heard from the prime minister of greece is that a lot of talk on social responsibility, social justice and european solidarity. i did hear anything on structural reform. that is what finance ministers here and leaders gathering in brussels on monday evening want here. they want to hear that greece is serious about structural reforms and not just social responsibility and solidarity. there's nothing that mr. tsipras said that will advance negotiations in terms of what he is going to do to unlock some of those bailout funds as we have been talking about of the last couple days. it is pretty clear that

the eurogroup president will not have that trough of money disbursed by june 30. that means greece is likely to miss and parsley default to the imf. vonnie: stick with us. we also have an studio with us a former secretary of defense william cohen. both leaders have different agendas. let us turn to president clinton's speech for a moment. did he make any mention in terms of sanctions. ? didn't come across that he needed sanctions to end? william: he didn't make a powerful case for ending the. he said that the sanctions have been responsible for external threats. but they have weathered them and stabilized and it is now time for investors come back. look at all the things that we're going to do. i would say, where have you been all these years that you have been in power? you are now talking about having an educational system that promotes investment in

technology and to become a world-class economy. they have brilliant scientist. they have great intellectual capital in russia. the question is are they going to be structurally reformed and russia to illuminate the corruption and the oligarchs and the rule of law as opposed to the law of rule of president putin? brendan: i was struck by that as well in improving the quality of mid-level managers and encouraging non-raw exports. these are things that russia could have been doing for two decades. that was the last time you are negotiating with them. we also have anders with us on the desk. your ears for dublin you heard the word eurasian union. anders: what pruden is trying to do is close ranks with china ranks with the other former soviet republics. he wants to create and go back to an old warsaw bloc approach to economics.

that is where russia and its allied countries were impervious to u.s. and european sanctions. that is what he is doing. he is looking at an economic system where trade is happening between these autocracies and they can then really act with impunity on their borders, on their territorial borders in terms of expansion and expansion of influence and are wary about economic sanctions from the west. brendan: he also talked about the soul grow. i thought it was interesting that he made explicit mention to that. there are two ways to look at that. that could be more cooperation between russia and china and the other is that we have our sphere of influence good if we recognize that, we recognize what you are doing. that is your spirit and this is ours. -- sphere and this is ours. william: he also had one of the most powerful figures in china.

he was speaking third in line. i think his message will be of mutual respect equal responsibility border security type of thing. i think his position in the lineup was very important in sequencing. it says that they are in russia with terms of promoting better relationships with the big powers. anders: if russia is not selling its gas and oil to europe, it has to sell to russia. it is going to be sold digit oil. vonnie: prime minister tsipras gave a pretty confident speech. europeans have been wanting that. if you exploit other avenues? -- is he exploring other avenues? anders: the message i get from tsipras is that he was speaking to a russian audience. you would expect that he

once a strong pro-russian things. he actually did not. he walked a tightrope between russia and the european union. by walking that tightrope in that context, it seems that he wants to stay in the european union. what he is doing is akin to diplomatic terrorism by going to russia and threatening, playing footsie with russia. i think it is unfortunate that the ecb gave into that diplomatic terrorism by immediately -- vonnie: raising the ela ceiling. it was a week or two, but it is huge. brendan: the ecb is not supposed be a political institution, but that was absolutely a political decision. it would give greece just enough time for this decision to happen. we will go to hospitals for

that. let's go back to ryan chilcott in st. petersburg. there was a classic vladimir putin tweak. he touted the price of oil in euros and not dollars. he also said the word adapted. the finance system has adapted. they are focusing on non-raw good exports. has the russian economy, now that it has had several months to respond, is it in the process of rebalancing? ryan: the russian economy is not rebalancing. there's no doubt about that. rebalancing would involve diversification. we haven't seen that. there has been a lot of need to diversify. what we have seen is a little bit of panic that we had last year at this forum when the first round of sanctions was introduced after the aviation of crimea. that has gone away. the economy is as they keep saying, is in a little better

shape than some people thought it might be. that is kind of a loaded statement to be fair. who are these people? the economy is still in bad shape. it is set to contract by 4%. oil prices at $63 is really bad for russia. this means that real incomes will fall. tensions will indexed to inflation for the last decade. that cannot happen anymore. inflation in this country is at 60%. it is a way to kind of change the narrative. things are rough, but they are not nearly as rough as they could have been. i think that is the focus here. he is trying to control the negative. as far sanctions are concerned, we have readjusted. you can keep your sanctions in place as long as you want. we are playing ball in ukraine. we are not want to change what we are doing in ukraine. it's not us. we are sorting things out here at home. they are not really hurting us. we are open for business. why don't you be friends with us?\ that is his message.

brendan: the russian economy still based on gas and oil. it is my manufacturing economy as he would like to describe it. we have william cohen with us on the desk. did russia miss a chance? was there a time in the late 1990's and early 2000 where they can have chosen a different path? william: they could've chosen the path that poland did to make a chance for nation -- a transformation and having a market economy. a miss that chance. -- they missed that chance. what vladimir peyton putin is saying is that they will do it now. brendan: is that also a possibility? william: i was talking divorce yeldon dashboards yeldo divorce yeldon

and other was not opportunity at that point to make the transportation to -- transformation to a market economy. vonnie: i want to go to luxembourg where we have hans nichols. we have had lines speaking about tsipras as he was speaking to the audience in st. petersburg. hans: what leaders want to hear from tsipras is some sort of indication that he is going to come to the table on monday with new proposals. it was no indication from moscow that he plans to do so. one quick note on european emergency liquidity systems out of the ecb -- we still don't have a firm number on how it was raised. the request was for $3 billion. we do not know if they satisfy that request. that is going to be a key number to try to figure out in the next couple of minutes, if not hours. brendan: that was hans nichols

and luxembourg. thank you for joining us. you will be somewhere else when negotiations move on somewhere else. ryan chilcote in st. petersburg bring us live coverage of the st. petersburg economic forum. on the desk, we have william cohen. 10 seconds or less -- good food did vladimir putin set out what he accomplished? william: i don't think so. brendan: the ruvell drop during his speech. we have evidence that it is not getting done. vonnie: slightly positive in both athens and russia. brendan: anders corr is also with us. this has been special coverage of the st. petersburg economic forum. coming up "market makers is

" is next and charlie rose will speak with vladimir putin. ♪

>> live from bloomberg headquarters in new york. this is "market makers," with erik schatzker and stephanie ruhle. stephanie: good morning, everybody. olivia: this is market makers. matt: i am matt miller. we are in for erik schatzker and stephanie today. olivia: first up, the ecb has just wrapped up an emergency call in frankfurt and they have decided to go another lifeline. matt: two days after they threw in the last lifeline. olivia: they are raising their emergency funding cap in a growing fears that banks in greece were not going to be able to open on monday.

meanwhile, as you have been watching, we do have st. petersburg economic forum underway. vladimir putin and alexis tsipras just wrapped up their speeches and in a moment, charlie rose will be sitting down with russian president vladimir putin for an interview you will not want to miss you matt: i like the enthusiasm. it is a friday -- you definitely don't want to miss charlie rose. i want to get to the five other stores you need to watch this morning. . we are watching chinese stocks tumbling. all issued bubble warnings this week. the market value of chinese shares jumped by more than $6 trillion in the last 12 months. they have had their worst week in the last three years. they are down 13% this week and

stocks were up about 150% in the past 12 months. this is a market dominated, at this point, by amateur investors and has unprecedented amount of margin debt. there are a lot of things that would suggest we are in bubble territory with chinese stock. this is a command economies of the chinese control to some extent the move in the market. they released liquidity and demanded be invested in stocks or they tighten up. olivia: all of that is true but if you look at the actual valuations, the average chinese stock is trading at 95 times earnings. that is a little frosty. matt: absolutely. olivia: number two story. speaking of the two big stores russia and greek. they have a deal, and accord russia has signed a preliminary agreement to build a natural gas pipeline through greece. they will own 50% and provide all of the financing and the greek government will on the other 50%. russian president vladimir putin is blurring turkey and greece

with promises that they will become new energy centers for seven europe if the black sea pipeline is in fact. of course, you remember they blocked a separate northern route. matt: clearly my favorite story today out of so much news because basically, russia is making a play for these two big countries. greece not as big as turkey which has the second-biggest army in nato. it opens the door for a bidding war. maybe someone wants to go in and buy greece for more than russia will buy them? olivia: five greece? -- buy greece? what you mean by greece? matt: i mean as in win favor. by the way, that was the amount the ecb has raised their emergency funding. olivia: we finally got the number. back in may, president putin said it greece does find a clinic green -- agreement for this pipeline, which they did

today, russia would consider giving greece more aid. lots of serious questions on a fresh attempt afford to bail out greece. we heard prime minister tsipras speaking moments ago and he did not suggest a. matt: well they would not fail them out, they would default. they would have to win favor. olivia: number three story i will head out. >> number three today's earnings are carmax which both report earnings -- first quarter sales below estimates, 4.0 and billion versus 4.1 5 billion. earnings-per-share did beat estimates by one penny. trades -- shares are trading lower in the premarket, down about 4%. kb home earnings came out momentarily and they'll be watching how the company will do given higher land and construction cost and how their shift toward lower margin communities is affecting earnings. olivia: thank you so much. number four. matt: i care more about carmax.

olivia: you always care more about cars. matt: number four is google. they get a warning from the eu that they could face huge fines in the antitrust investigation. according to the eu, google is abusing their power over search results to unfairly promote its own services. and paid ads. that sounds so hard to believe that they would do that. olivia: you are joking? matt: i am being sarcastic. olivia: it does seem to very clearly that they are. i don't to say they are abusing it. the google shopping services answers come up before expedia's. matt: i rather enjoy google shopping. olivia: the news today was that this letter was leaked and it would be a significant, painful actual dollar amount of the euro amount. that makes sense because the point of a fee is meant to be a deterrent. matt: they have been loving billion dollars funds or seven-eight years now, so they are getting into it. olivia: you don't want to be in

the crosshairs of the european regulators. number 5 -- martha stewart back in the news this morning. amid speculation that could be a takeover in the works. the stocks jumped 26% in premarket trading and actually come yesterday trading because it happened before the bell. according to "wall street journal" sisk -- sequential brand isn't talked to by martha stewart living. we could see a deal as soon as today. the stock or a fraction of what it was. remember that day that martha stewart had the ipo and she served fresh orange juice and croissants at the stock exchange? the stock was worth $2 billion and she was worth $1 billion -- today, martha stewart has a cap of about $370 million. matt: it's still a lot. issue have that much sway? do you ever cook something martha stewart recommended? olivia: i do have a martha stewart cookbook and it is pretty good. she has -- she is chairman and she is creative officer. matt: i will never forget her

watching her get 40's with david letterman. olivia: what question mark -- what? matt: 40's. olivia: she also has a thing with busta rhyme. i respect that. matt: suspect in south carolina and the church massacre will be in court today. dylann roof is suspected of killing nine people in a historic black church in charleston and his roommate said he had been planning an attack for six months. one survivor's book to sylvia johnson, the cousin of the victim's, and she shared the story with abc news. >> it was just horrible. it was just blood all over the place. she played dead in order to survive and to get him not to shoot her. matt: federal authorities are investigating the killings as a hate crime.

the fcc has come to the rescue of anyone who hates automated phone calls. regulators have agreed that phone companies do not have to connect robocalls is the consumer does not one of them. in the past, punk companies were worried of making most say they had to connect every single call. olivia: the fight over president obama's trade agenda shifts to the senate. the house has approved a measure giving him trade authority to negotiate trade agreements and this comes one week after the democrats -- matt: i have to break in. president putin is sitting down with charlie rose. let's listen in. >> this military strength and possibilities give it a big role . there are big issues that can only be solved in russia participates and you will play a definitive role in that. we want to find out what you think about security and read them about friends and enemies, borders and threats, economic policy and foreign policy, about

ukraine and the baltic states about europe and the united states, about syria and iran, and about china and russia. they are imported problems and important conflicts that russia will be part of the solution. none more important than the borders of russia none more important than ukraine. vladimir putin -- help us understand, as you see it. where are we? how do we get there? and where do we go from here? vladimir putin: first of all, i would like to thank you for agreeing to work with us. here today to be the moderator of this meeting.

taking on this form in st. petersburg probably it would be better to concentrate our attention on the economic issues that i agree with you without finding a solution to a number of international crises, hardly any advances can be achieved. we have been talking about the ukraine repeatedly. we understand there is no evading this question. but you know, we always talk either about ukraine, something related to ukraine. several years ago, we talked about the crisis in iraq crises and other countries. we are talking about what has already transpired, but we never talk about why it hasn't happened. if you want to talk about it which is evidently, quite important, i should like to start with this issue of why is there a crises ukraine -- crisis

in ukraine? i was confident that after that system went in to oblivion after the collapse of the soviet union , certain western parties of hours, particularly the united states were in a kind of euphoria. instead of trying to create a new situation a partner relation , they started to explore new, free political spaces and that is why we were witnessing that expansion of other phenomenon. i was always wondering why that was happening and finally, i arrived at the conclusion i thought would somehow partners and they were under the illusion

that after the second world war, they used to be one world order and now that the ussr was gone they got there was a vacuum that had to be filled. i think that is not the right approach to finding a solution to these issues. and that is why iraq happened. we know, and our partners agree, there were errors committed in iraq. still in happened once again in libya and now in ukraine. we are not the original cause of those crises phenomenon which happen in ukraine. they should not have supported the legal coup d'etat as well as forcible seizure which finally resulted in a serious confrontation in ukraine and

civil war as it were. what has to be done now today, no doubt the agreements should be observed. let me emphasize if we were not content with something we would not have put our signature there . but we have put our signature under those documents and we will seek their full implementation. i would like to draw attention to this fact yours and the attention of our partners, but we cannot do that unilaterally and i am repeating it over and over again -- they are telling us russia has to influence somehow the south part of ukraine, but that is not enough. influence has to be exercised also in the central of keith and we cannot do that. this is the avenue which has to be pursued by our western

partners. the europeans, the united states, let's work together. [applause] charlie rose: what do you want to get government to do? vladimir putin: we do not want them anything to do it the ukrainian people that has to want something from the government. either to do or not to do. we believe that to achieve a settlement agreements have to be implemented and the key issue here is, no doubt, the political component. there are several elements to the political sentiments. first, the constitutional reform and the agreements say that quite clearly. either with providing an economist stages or maybe one

understands what that is. our european partners, germans french have explained what this stands for and the authorities are ok with that. secondly, the draw on the special stages of these territories had to be enacted. it has to be enforced. it has been promulgated but because not been implicated yet. -- implemented yet. kiley dean parliament has to be -- the iranian parliament has to be adopted and that is with the agreement stipulates for. formally, france has done it but once this decree was adopted by -- they also introduce amendments to the law. as a matter of fact, bringing it

to north. instead of many purely -- instead of manipulations, they have to start practical work. the really, there has to be a law and political amnesty that cannot be engaged in a dialogue with people -- in danger of criminal prosecution. finally, the visible elections have to be adopted in these territories. these elections have to be performed. all of that is stipulated in the agreements and i am drawing your attention to that. all of that has to be done in coordination with the representative of the southern part of ukraine. unfortunately, too much time has passed since the signing of these agreements. a direct dialect is required. that is what is missing. finally, economic rehabilitation

of these territories has to be launched higher. the excuse of having no money does not work here. the leadership believed that this is the territory of ukraine. that ukrainian citizens reside there who are entitled to disability allowance. then they have to do something. they cannot pay these allowances or they are violating the constitution or they have to be implemented. not just in words but in practice. [applause] charlie rose: as you know, the united states believes you are arming and encouraging the separatist and that you are using the russian armed services and that adds to the conflict that heightens the emergency. many people worried that it is

trending toward some new cold war. vladimir putin: no, no. cold war is caused not by local conflicts but by global decisions like the unilateral withdrawal of the united states from the treaty. that is indeed a step which pushes all of us toward a new spiral of competition because it shifts the global security system wherever they happen. curiously, what the same goes for about used are of ukraine. what i want to say is that in today's situation is resolved by political means no arms will be required. but to achieve that, there has

to be goodwill as well as the willingness to be engaged in a direct dialogue. we want to facilitate that. we will facilitate that but we will never agree if anyone somewhere will try to speak from the position of kforce -- of kforce, either with police militia, special forces or armed forces. until armed units and the so-called nationalists battalions arrived in the territories, no arms have been imprisoned there and it would have been no arms in those territories if they tried from the very outside to resolve the issue by political means. arms right there and forces started to be used against those rebels. they are trying to persist and

they try to resolve by political means and no arms will be fired. [applause] charlie rose: what are acceptable borders for ukraine? for russia? what borders are acceptable for you? vladimir putin: what do you mean when you are talking about borders? geographical borders or political borders? what are you talking about specifically? charlie rose: -- vladimir putin: as for cooperation, there is nothing new about that despite all the difficulties of today, i have always thought that ukrainians and russians are one people. one ethnic group. while certainly, they have their cultural peculiarities but they

have common culture, common foundations, common history, whatever happens -- in the end, russia and ukraine are destined to a common futurity from the very beginning. we have fought -- we have thought that ukraine has the right to make its own civilization. it is no secret we all know that it was russia who initiated the death integration of the ussr. we initiated providing sovereignty to all these countries and the thing happened. russia and ukraine, apart from being and by those that i have told you about, they are also bound by the realities of today.

the common engineer and infrastructure, become an energy infrastructure, become the transportation system. uniformed regulation framework and we can also run language with no hindrances. it is related to us directly and it is related to our interest. we have always assumed that we are going to resolve all controversies and it is quite natural that controversies arise by negotiations. if first parties start to be engaged in the process they have, we believe, to take into account our interest as well and not just try to put out before the choice. in the political dimension, we look toward to a full-fledged an equal dialogue. [applause]

charlie rose: i want to come back to the ukraine, but let's talk about the relationship that russia has with the number of countries, including the united states and china and others. characterized the relationship with the united states. what is wrong with it? what is right with the? what does it need? vladimir putin: in other words, what are the positive sides and what are the problems? let's start with the problems. the problem consists and they are trying to impose on us that decisions from their standards without thinking about how we understand our own interests. as a matter of fact, they are trying to say that they know better what we need. let us decide ourselves what our interest, what our needs based on our history, our culture.

yes, please. charlie rose: how are they doing that? how is the united states tried to decide what you need? vladimir putin: interfering into our political processes. including financing nongovernmental sector and imposing decisions on international security and elections, state problems. the first time in which i referring to iraq. it is the dialogue -- it is not a dialogue it is an ultimatum. we will not be talked into ultimatums. now, things that bring us together.

there are some. they are united by our desire to work against common threats which includes terrorism, drug trafficking and dangers -- and dangerous trends of the possibility of weapons of mass destruction. about human interaction, the fight against difficult -- difficulties encompassing global economy issues. first of all, i am referring to the area where we can have our influence on. there are areas in which we have

established decent interaction and hopefully, that will form a groundwork for relationships with us further. now about china. the lecture the level of trust in our relations have reached an unprecedented scale and importance in the history of our politics. for 40 years, i'm reiterating it , we have a negotiation on the border issue. we have found acceptable compromises in this issue is no longer there. we have settled it for 40 years and we always manage to address those issues with other countries. we develop economic context. we are actively cooperating with the framework of international organizations with the framework of the united nations. we are developing and 14 new

integration processes. quite efficient and attractive for other countries to see. check out cooperation -- shanghai corporation established to settle border issues but it did not stop there. and now, this organization is attractive for many other countries. [indiscernible] a decision being made to receive pakistan and india as full force members of the organization, corporate within or the organizations -- within other organizations. on to take efforts and to bring together efforts of the economic union and the integration process of the silk road.

we are establishing relations and chinese is our largest trade and economic partner in our and very efficient. [applause] charlie rose: some say it is a natural relationship because china has cash and russia has natural resources so there is a natural affinity right there. vladimir putin: well, the americans, i'm sure you know about that, you are pretending you are not familiar with it. the american nautical science experts speak about turning toward china. china is the growing economy. if anyone is concerned with the climbing growth rates -- with declining growth rates, it is china.

10% crude is the highest in the world and the whole world is turning toward asia. europe is interested in it as well. we are destined to do that because we are neighbors. it was a natural affinity, natural movement and development carried besides, there are many values which are common for us to protect against the arena. we are addressing international issues. [applause] charlie rose: is it a more natural affinity than europe and the united states? is china more in the future a place that russia feels more comfortable than with europe or the united states? and could that lead to some anti-winston alliance? tyler perry: -- charlie rose: anti-american alliance?

vladimir putin: china -- we are not building alliances against anyone. we are building alliances for implementing and meeting our own national interests. we are drawing attention to the fact that you are exposing nato. nato was created as a counterweight to the soviet union. they are expanding but not create any military lines within china. we do not plan to adopt a block-based approach. what we are trying to do is adopt a global approach. trying to distribute the responsibilities to find an

acceptable compromise. we are never based on the position of forts. we are trying to meet solutions within the framework of negotiations. [applause] charlie rose: to have read much about you and your country there are three things that i constantly see. one, your sense of wanting to be respected. another is to want to have an equal conversation. a third is a sense of, perhaps in your history, a great concern about borders and having a buffer zone for russia. and my accurate in that? vladimir putin: -- a buffer zone would be ukraine -- vladimir putin: well, i keep

hearing that russia once to be respected. don't you want to be respected? isn't there anyone who wants to be respected? that is a strange way to see things. is there anyone who wants to be neglected or humiliated? there is something about respect or the lack of respect. good things that we want to meet our interest that detriment to our partners but that should account on official dialogue. the willingness to talk to us then there is a counter response on our side.

it has to do with this so-called partnership promoted by our colleagues and friends in europe. by the way, this actually promotes our first response to the eastern partnership initiative. very positive. we assumed that russia and european countries all linked by bear aspects, common difficult and regulations, common infrastructure and economic ties. we believe that if europe started working to them inevitably it a constructive dialogue would be launched -- a constructive gallop would be launched on interaction and we

would continue working with them and there might be some divergences, convergences and we could reach acceptable solutions in order to create a common economic and finally, -- [indiscernible] how did the crisis in ukraine emerge? ukraine was proposed to sign an association agreement, agreed. as everybody knows, ukraine is an area member within the framework of cif and eight this ukraine you assist -- consistent in establishing that. for 27 years, we have been negotiating on the conditions of our accession and it is why ukraine decided to go to the territory of the russian. is that the way people do things? we answered, it is none of your

business. is it the way that issues are [indiscernible] is it about just respect? our interest -- charlie rose: let me talk about a couple places where there are the dramatic needs for cooperation between the united states and russia. one is iran and the nuclear negotiations and the p5+1 -- do you think there will be an agreement, kind of agreement do you want to see? vladimir putin: well, that is another thing which i would like to highlight and which i think of the principal matter, we have a common understanding with all participants of this process including the u.s. including the european countries, and i hope that all of us are against

the wmd spreading through our territories. this is our principles position. this, what helps us to constructively work with the united states in this direction. we are very glad that the iranian position has changed a lot which allowed us to achieve the level of agreement which we have today. we will support these agreements of course and these arrangements. the only counter could that -- counterproductive they i think would be to especially undermine these agreements by demanding iran to do something which it cannot do and which is not quite important to solve the main nonproliferation problem. but i hope it would not come to this end in the nearest time, well, what do we have to sign it?

when kelly sign it? well, when it is ready, he says. with diplomats like that, they say, when it is ready. i believe that in some time, there will be some signing initially, we met the general of the iaea and after the signing, there must be implementation of the arrangements which will require about six months but there is another important thing . it is important that your country, the u.s., would support such initiative and for the congress to support it. we know the discussion is ongoing in the u.s. now that the president has the right to sign these agreements and that they do not know -- they do not need identification by the congress. well, that is not our problem. we cannot solve it because you can't even solve maybe some problems for the washington authorities neither.

so, i believe that the ball is on your side now. we expect that among all the difficulties that the president of the united states will achieve the results which will be one of the main -- one of his main achievements in foreign policy. charlie rose: you do believe there will be an agreement according to what they are telling you? god and are yes, i do believe in it. and we are aimed at achieving this result because it is very important to defuse the situation. the same importance is following things. all the countries in the region must not feel that there is a moment coming for them which they can expect the aggravation of the situation of some threats and merging. b cannot let this feeling to a

march. -- we cannot at this feeling emerge. russia is into developing nate -- relationships with all the regions in an country. -- regions in the nation. charlie rose: before returning to cut global consideration that have been raised by a number of speakers, this afternoon, it is syria. do you see a way out of this because russia has been supporting the assad government. russia -- iran has been supporting the assad government. it seems to be like a pendulum swinging one way and then the other. what is your solution to a terrible civil war with millions of refugees and when can it be done? vladimir putin: well, the sooner the better i think. at the same time, i like to

highlight one thing. our position is based on the concern that syria might submerge into the same situation as lebanon. syria could -- as libya -- a slip of the time. libya. that syria can become libya. or like iraq because you know before the authorities in iraq were destroyed, there were no terrorists there. there have been no terrorist. let's not forget that because it actually come people do -- people prefer not to speak about that but who created the conditions? and how creations -- and how the conditions were created for terrorism? is in the clear after the invasion to iraq, the authorities had been destroyed

and then isis came back. the islamic state and what happened in libya no state at all. even the galactic -- even the nomadic service failed -- even the diplomatic service failed. we do not want similar scenarios to be implemented in syria. that is the baseline position to support president and his government at the moment. we believe that the position is correct because it would be difficult to expect anything else from us under the circumstances. moreover, many people even agree with that position and i have mentioned for several times -- i have mentioned iraq several times. we know the situation. the u.s. are supporting iraq now . they are arming the army.

they trained the soldiers and with two or three swoopes, the isis captured so many weapons that the iraq army does not even have it. the army equipment missiles, etc. i don't think it is the knowledge of the wide community, but isis is armed better than the iraq army supported by the u.s. they have withdrawn, but art special services shows that thousands of american troops are still in iraq. what is the result question mark quite a sad one, quite a tragic one, and we would not like the same thing to be repeated in syria. we are urging all our partners, including the u.s., the europeans, but primarily the u.s., to take additional efforts -- to make additional efforts to fight this absolute evil of fundamentalism and this so-called islamic state.

and some other groups of the same kind which in their essence, are just ranches of -- are just branches of territory is organization -- global terrorist organization which actually struck upon the u.s. themselves. we are urging to find a political settlement way which of course would provide for test omission of the political regime and we are ready to discuss that . by the way, just recently, in the u.n. an opportunity to call the cooperation was declared sign with isis and other terrorist groups with information. we are ready to work with the present for the sake of pump -- of providing political preservation. for all the people in syria feeling access to the instruments of power. in order to avoid the military

solution of the conflict, it cannot be done from outside with use of force. [applause] charlie rose: are you repaired to purge -- to urge assad to step down if it would be to an alternative political solution that would be a bulwark against isis going into damascus? vladimir putin: well, are modulators are real americans, i say. without external interference and he is saying whether i am ready to urge -- only syrian people can urge the president to step down. that is elementary. i have said that we are ready to be in a dialogue with the president in the direction of him. making the political reforms with representatives of the

so-called healthy opposition. i believe that is quite and constructive and implementable. thank you. [applause] charlie rose: return this back to the economy although i have many questions. chairman of properties and to his left -- we want to also talk to my far right and on my knee right is miguel and there are many things to talk about on the energy with him. romney, with respect to much of what you have heard about china today, what are the possibilities -- what other possibilities do believe for a relationship and an increasingly beneficial relationship of some significance between russia and china? >> it seems to me that economic

is really the main thing of cooperation between china and russia. on that front, as a business person, it seems to me that russia and china are made in heaven. the couple made in heaven. one has natural resources, one of the richest in the world, and china is very short of natural resources while they are quickly developing but it does have the capital to purchase and to help. i just see that from an economic perspective. i cannot think of two countries that complement each other so well. the only thing, if i may be allowed to say is this -- i am sure the president has his strategic thinking these of the russia's relationship with china but i'm not sure if you are businessman -- if your businessmen are ready to take advantage of the china market. look around.

how many chinese are in the audience? i feel very lonely here. and how many russians are in china? i don't know. i get the sense in the last day or two, discussing with many russian friends here that asia is still something that is nice to have but not quite prepared to jump in economically. the president just mentioned that china is very significant economically in the world and rising. i just wish, mr. president, that your business leaders who are sitting everywhere here will be more prepared to take advantage of it. for example, you mentioned about the financing that is necessary for many of the russian project. well, many companies these days from around the world are listed in hong kong because hong kong

has got a market linked up to the shanghai one and soon to be with the shin-soo choo one as well. let me remind you, the shine how structure -- the shanghai structure has changed and they are the eighth largest in the world. all three of them put together, it is the second-largest on the market in the world. and why not russian companies enlist in hong kong and on the mainline capital can then invest in the hong kong stock exchange nowadays? it seems to be a great opportunity, mr. president. vladimir putin: i completely agree with our chinese colleagues about the fact that russian-chinese relations in economy must be filled with practical content and work. not only at the level of the largest companies but at the level of the smes as well. for it to become a real live

issue of joint work in many areas of joint production, at the same time, china is our first trade partner. we have $85 billion per year turnover and yesterday, i spoke about that with the first deputy president of the state council and i also discussed that with where we could achieve 2 billion -- $200 billion turnover. of course, you voice the right idea that we must be careful of creating the necessary conditions to cooperate. that concerns us and our chinese partners. i mentioned in my speeches that we are not limiting the flow of capital in any way, even under the most difficult conditions of the crisis of 2009. even last your we -- we do

expect that our partners within their own regulatory measures, would act in the similar way because u.n. is becoming stronger and stronger regional reserve currency, that is a fact. the experts understand that and there is a lack of capital flow freedom, capital movement freedom. if that happens, it would be another serious step to liberalize our relations and we understand quite well that our chinese partners must be careful in implementing that and they know better when they should introduce these are those measures. an important step to deepen and expand our relations with the a decision to pay our trade operations in national

currencies rubles and national currencies. recently there have been trading's in this couple of currencies and we hope that this initiative will be developing for everyone and it will create additional opportunities for working in the real economy areas. on the whole, i agree completely. we must move forward and not be only on the governmental arrangements or on the decisions taken by sovereign and etc. it is a cost very important too, because it creates platforms for other corporations we are working and we will move forward. charlie rose: to europe, at the far end is the ceo of a holding company in the rain -- holding company. what you see as investment

possibilities in russia? what questions do you have? >> i will start by thanking you, mr. president, for arranging this forum and to be invited in it. it gives us an opportunity to really meet our counterpart in russia. it is a sovereign wealth fund and we look across the globe for investment opportunities. we look for areas where we think there is sustainable potential for investment that could give us a long-term [indiscernible] we have invested in the euro in the u.s. and others. i will tell you one thing, i think the russian economy is very promising and the russian economy has a very solid fundamental.

i see it that way. i think we look at the russian economy, the russian economy has a skilled workforce and they are very educated and their workforce. in addition to that, we have resources at the top and the nonpowered that we have. on top of that, the russian economy is a big market. around it, there is a bigger market that will make it much easier for us to attack these markets from the russian economy. this really makes us feel assured that it is a good market to invest in and we think it could be a long-term investment. usually, will be good to any market we try to look for [indiscernible] i think, mr. president, you should step up russian investment funds and take a big

comfortable step in that direction. well we came into the ss the russian market -- in to assess the russian market, we found that they are very transparent. any investment you make in the russian economy, we are your partner. i think that makes the russian economy. attractive for us. -- the russian economy very attractive for us. charlie rose i keep forgetting on my right is miguel who is from argentina, as you know. they have a deal to work together to [indiscernible] what are the opportunities between the two countries in the energy field?

miguel: first of all, thank you mr. president, for the bridges a bit -- for the opportunity to be dissipate. energy is a very important matter for some of america. particularly, for my country that has experience an economy growth in the last 10 years. it is short of oil and gas reduction. we have been blessed by god with normal resources and information on resources and we have been placing world ride -- worldwide rank resources on commission and commission on all resources. [indiscernible] the production of the company has grown around 25% and we have managed to expedients the resources and it can be economically produced. saying that, we need your skill

and experience to that level and for that we require an enormous amount of capital investment. we require technology and for that, we believe there is huge opportunity following up the operation that exist between our two countries, russia and argentina, to develop our resources and to put them in many fronts. that opportunity has basically given the opportunity [indiscernible] and we are now looking at what are the friends in which where we can cooperate and how we can help each other to develop the potential we have in our countries. charlie rose: do you have comments on that? in terms of the opportunity?

what's interesting to me as we listen to different regions is there is -- i listened to you say that the impact of sanctions may have been exaggerated elsewhere. how do you see the opportunities and the necessities for the full exportation of the full advancement of the russian economy? with respect to institutions, with respect to roll of law and things like that? vladimir putin: first, you asked me to comment on what argentina just said. asp argentina, we discussed opportunities of corporations with the president of argentina and we talked about that during

her visit and my visit argentina . and we agreed that are confidence would work together. i did not follow the process but i was very pleased to hear that some specific agreements have been reached about the launch of our joint efforts. argentina has a very wide potential and joining efforts with one of the leading companies is definitely one of the leading companies could bring good results. i would like to say the following. if i am not mistaken, it is not just a partner of russian direct investment fund. as far as i know, the countries have achieved and a commendable fund dissipating in 10% in all

the projects of prospect investment funds. am i right saying that? yes. i would like to draw your attention toward our partners and what they have agreed to do. when russian direct investment fund is in -- is implemented, it is always involved and the share of his 10%. i guess this is the testimony of high professionalism of our experts from direct investment fund. i would like to ask you to welcome our partner and to thank them for the confidence [applause] . -- for the confidence. [applause] >> speaking about the situation, there are pluses and minuses. this is a period when they are

implementing structural changes and when we can take steps that will be opening new, long-term prospects and that will allow was to bring good results in the future. you mentioned sanctions and you asked about what you plan to do in order to overcome the current difficulties. i have characterized the situations we are facing today and it is very far from a catastrophe. we are planning to ship several goals. they are not as ambitious as the goals we used to set several years ago, but i hope that they will allow was to achieve a better level of quality than before. what we are trying to achieve is , first, to ensure the growth of our economy for the forthcoming years. so growth has to be about 3.5% which is the average economic growth in the world.

we also have to provide for our labor efficiency to reach 5.1%. [indiscernible] we also mention the inflation rate. it has to be decreased to 4%. this is what we would like to achieve. in order to do that, we have to carry out a balance and coordinate it -- a balanced and coordinated policy. all the trends you are witnessing in our economy allow us to do that and they are achievable only hope we are able to reach them in the near future. and that we would not like to respond to any distracted actions that they are imposing on us. even to the detriment of their own economy. based on the calculations, including those of our european partners, some of them even mentioned 40 billion or 50 billion based on the recent details which i have heard from

europe. experts believe that the balkan produces demands of two 100 billion. our turnover of europe has decreased almost by a quarter and with your country, the united states, your overgrowth is 5.6%. speaking about the flow of goods into the russian confederation, thereby of has decreased and import has decreased twice. it amounted to $30 billion and now it is just 15 billion. the structure of the turnover that demonstrates growth -- the

russia-u.s. turnover, it has increased by about 11%. of course, it does not amend for -- i know for sure that no one ones to there any losses at all b -- once toear -- want s to bear any losses at all. they are talking about stagnation in europe and what we have to do to assure condition of growth of the global economy and to assure growth in russia and europe and in all the countries of the world. we definitely have two stop imposing sanctions. i would like to emphasize that only sanctions imposed by the united nations are legitimate. speaking about how to achieve all those goals, we are going to talk about economic freedom and respond to economic freedoms to

ensure jurisdiction and trading and management systems. charlie rose: sitting on my far right is the owner and chairman of the supervisory board. russia makes this push for import substitutions -- what are the risks and opportunities there? how do you see it from a western ? >> i would like to give you my

personal view on the question. i was and i am still against the sanctions. from the very beginning, by the way, and i'm not the only one in the german economy who is in this position. it is high time and i support the statement of president putin - it's high time to stop these sanctions. [applause] and i hope now everybody in europe understands that these sanctions have her -- have hurt europe substantially. if you look to the figures for instance, within two years, 2014 and 2015 germany has lost 50%

of their experts to russia. -- of their exports to russia. yes, i don't consider the local entities which operate in russia who are also heavily involved. i'm quite successful, by the way with your industry and -- in the transport area. and we have very good experience with our partner in russia. coming back to other european countries, look to italy for instance. italy is losing only 10% of the exports in comparison with last year. so, it looks quite good for

them. the consequences in the different countries in europe are totally different. and also the interest is totally different. we have no common interests in that respect. we have, decisions on the political level but whatever the reasons are, this is totally wrong. we need to understand that russia turning to the east is doing something quite normal. the east has a lot of opportunities to offer to russia. don't forget, we europeans and specifically germans, even my company -- i have a medium-sized company who is globally operating, we have strong connections with the chinese and extremely good business. we are very pleased to work together with the chinese so why shouldn't russia do the same? the tragedy, in a way, maybe that is overstated -- the fact

is we have boosted the tram by applying the sanctions. -- we have boosted the trend by applying the sanctions. we should go away from that but everybody should have the chance to make the decision where he finds the best partners for his specific business whether it's in the west or the east, it does not matter. we are supporting the global development and i would like to add a peaceful development which is not satisfying at this moment at all. [applause] charlie: another place i want to talk about is the relationship with germany strong economic power, and you have had a good

relationship with chancellor merkel. how do you see the future of russia's relationship with germany? >> the future of relations between russia and any partner country depends not just on russia. it is a to a street. we cannot achieve positive results but we strive to develop relations -- mike kelly just spoke about a large number of german companies that are present on the russian market. we are talking about thousand 200 companies. -- we are about 6200 companies. they remain present and they remain active.

i mentioned new enterprises opening up. one was launched today. german companies among others were involved. we have traditional cooperation with them and an up planning to disrupt or even limit this and this is not something german businesses -- we have good reliable long-standing relationships with them and we will do our utmost to preserve and develop them with the european continent in general and the global economy. we spoke about the current state of the global economy. we are all aware that in general, the experts highlight two big issues -- the growth rate and some of them speak about stagnation and experts

think the situation is likely to remain the same for us. the second problem is the debt burden that impedes growth. if we are talking about europe look at what is happening. germany is showing very moderate growth, 1% last year. in france, 0.7$%. italy has been having zero growth for a number of years. it is obvious we all need additional points of growth and incentives for development. the problem of greece is not just the problems or greece for all of europe. when you oh somebody, it's not

just your problem. look at what happened. integration processes offer benefits. open markets are downfalls. you cannot regulate national currency because there is no longer a national currency and europe is tightly linked to a currency that is links to the economy. you cannot manage agriculture and tourism, there is limitation so it has to be very balanced. we are curious -- we are following closely what happens in europe because it is our meeting trading partner. the volume of trade went down significantly. europe still remains a leading trading partner. germany is number one out of all european countries.

i hope the problems will go away and we will continue developing relationships further. we are prepared. [applause] charlie: you have been generous in your time in st. petersburg at this forum. one last question from me -- the role that russia wants to play in the world in 2015 -- i have listed a number of hot issues whether it is your borders and whether it's the baltic states or whether it is the ukraine, in the middle east there is isis an syria the relationship with united states -- at the same time, some people have said you have more unconstrained power than any russian leader for a while. my question is -- how do you see

and how will you play a role in these big problems and where you will take the initiative because of how you and your leadership has changed russia? you are stronger militarily. clearly, you seem to be more aggressive although you don't like me to use that word i suspect. how do you make russia a serious part of the solution as a great power? >> i did not like you using the term aggressive, correct. we are not being aggressive. we are persistent. we are consistent in pursuing our interests than before. for a long time, we were silent

and put on the table various options for cooperation but are pushed further away until the red line we cannot cross. i want to make that very clear. i tried this at the beginning of the discussion. one should not try to change the global landscape, rather take things as they stand and work in the spirit of mutual respect and jointly look for solutions to global problems. russia is not striving for dominance were to be recognized as a superpower. we are not imposing standards on anyone. what we are seeking are equal partnerships with members of the international community the european partners, the united states and asia alike. we will base cooperation on mutual respect and equality.

this is what we will be guided by. when it comes to international cooperation, we remain committed -- we adhere to the principles of international law. sentimental instruments like the u.n. charter and when it comes to the economic form we will strive to achieve greater economic liberty. we will try to make the economy more efficient try to diversify as well, try to make sure that through this import substitution -- by the way, we are planning to allocate over 2.5 trillion rubles very shortly -- planning to rebuild high-tech production where we can and must be more competitive and not just to make sure we are capable to defend ourselves but to develop our economy and open new prospects

for development and raise living standards and quality -- and prosperity levels for our people. [applause] charlie: we live in a complex world and thank you for being here in your hometown to talk about these issues. [applause] >> thank you very much. betty: you have been watching our special coverage of the st. petersburg international forum. it was a wide-ranging conversation focusing primarily on how russia views its role in both the region, the world, and russia's outlook for its own economy amid sanctions from the west. olivia: i don't know about you but my big take away or what i keyed in on was the question about what vladimir putin thinks the borders should be in the

first thing president putin did was -- do you mean good geographic or political? i think that was very telling of perhaps a blurriness how russia views its borders and he went on to talk about how he sees and intertwined history and future between the people of ukraine and russia. mtt: ryan chilcote is outside the forum. what you think of the vladimir putin comments that the russian people and the ukrainian people share a culture and they are indeed the same people? ryan: that was one of the two comments that caught my attention. he has set up before. it's a deeply controversial comment and divisive within ukraine. some people within eastern

ukraine like the proration rebels would agree with that. many ukrainians would not particularly in the west of the country. they would be concerned that perhaps the russian president and russia sees themselves as a sort of big brother amongst russian speaking slavs. of the second comment he made which is very meaningful is when charlie was asking about whether russia was seeking respect. basically, putin said we are seeking a direct conversation with the united states. there are a lot of people out there that say the reason why the conflict in ukraine is still going on and this larger standoff between the west and russia is because there is no dialogue right now between russia and the united states. you can think about conflict resolution in ukraine, the

germans and the french have been the brokers. to be honest, in the kremlin, they don't take the french and the germans to seriously. russians like to think of themselves as a superpower. they like the bipolar world that was encapsulated by the soviet union and the united states. they don't like what they think is a mono-polar role run by the united states. until the u.s. sits down directly with russia to discuss ukraine and every other issue in terms of geopolitics, the russians will probably keep this standoff going. it's pretty clear that the united states and the obama administration does not see russia as a global superpower. they think of russia as a regional superpower. the conflict will continue as a result. olivia: let's turn to our panel experts. i want to bring in ethan and

anders corr. what is your big take away? ethan: the issue of ukraine is the most interesting. he stepped back on his speech and you get the sense of a man -- all public discourse has a huge element of theater but it seems there is a larger element of theater with putin, an element of what is said publicly and what is going on. you have a guy here who is facing a difficult political and economic situation, more economic, that could be a political consequence internally. this is the first time he is facing a recession. he had several percent growth for the first eight years and now he's got these problems. there is even talk of maybe moving up the presidential election. he is amazing at dominating his media and giving the sense what every word he said was hollowed

by a huge applause from the audience that was followed by a huge applause from the audience. matt: he thinks he can wait it out. he talked about the situation lasting for 24 months. he seems not to be bothered it. does he have the staying power? is it a matter of oil prices? what do you think how long this could go on? anders: he is looking back of the last 20 four years and sees his influence in territory decrease over that time. he is desperately trying to shore up the influence of the russian state and the influence and territory of the former russian empire, the soviet empire. he was actually very direct in this discussion. you picked up on the fact that he wanted to call ukraine and russia one people is concerning. i think it shows a willingness

to continue possibly a westward march on the part of russia. olivia: indeed, he has spoken of kiev as the spiritual homeland of russia. he very clearly shrugged off u.s. sanctions and maintained a 3.5% gdp growth outlook and says he will get inflation down from 11% down to -- 16% down to 4%. to what extent do you think he is being realistic and is a rational actor? ethan: i don't inc. he is being exceptionally realistic. matt: what he says is different than what he does. he puts on one face for the public and is on people and then he does something else. olivia: perhaps he is doing that deliberately. ethan: how much further along

does he want to go? at the moment, my instinct is that the bear has been caged and he is not in a position to do that. having taken crimea it allowed a dated and in need of renovation and he does not have the money to do that. on some level -- it oil stays at $65 a barrel, he cannot do it he was supposed to do, what he was hoping to do. i don't know if he understands that. its house like he thinks he can do it. matt: speaking of oil, there was a fascinating story that a made the deal with the greeks possibly laying the foundation for putting a pipeline through greece or turkey. what do you think about the actors that vladimir putin brought to this play today? cypress was there but i thought it was pretty impressive as a theatrical move.

anders: it's a very sad stage of actors. olivia: you do have germany and china. anders: there are a couple of investors. matt: one guy from munich. olivia: he is the 95th richest guy. anders: it's a sad freak show. in cyprus, it looks like a pirate ship. the only thing putin is missing is his eye patch. this is not a place you want to invest. olivia: why is he doing this now? ethan: my sense is that he is being backed into a corner and this is his way of handling it. it is a useful public relations endeavor. charlie rose being there gives a kind of legitimacy.

matt: it reminded me of "the interview." ethan: they hoped this would be the daovsvos of the east. anders: this is now davos. matt: you see the older political leaders in the audience. olivia: you saw that shell struck a big deal with them. ethan: it's not a complet zero. matt: what is your take away as far as what we can expect from the greek-russian relationship? is tsiipros running to russia for a lifeline? anders: russia cannot afford to bail out greece.

what was interesting is what you did not see. tsipros did not make a wholehearted appeal to be pro-russian. he is talking to a russian audience yet he was still walking a tightrope. he wants to stay in theeu and is simply using his speeches and trips to russia to put some duress on the eu to agree to a good deal. matt: great having you both here. we will take a quick break. may be the final break. olivia: a busy morning so don't go away. we will more including the latest on greece. ♪

matt: let's get a check on what's going on outside greece and russia. >> the markets are down a little bit. brendan: many people are looking what's happening with the fed.

i want to talk about one of the biggest movers today which is conagra, up about 8%. >> the reason for this is credit suisse and barclays have raised their target price to about $44 to about $46. jana partners disclosed the 7.2% date. matt: we will take a quick break and come back. olivia: i will be on later in the day but stay tuned. matt will speak to alex clement.

♪ ♪ (ee-e-e-oh-mum-oh-weh) (hush my darling...) (don't fear my darling...) (the lion sleeps tonight.) (hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store. matt: it is 10:00 a.m. here in new york. olivia: welcome to the bloomberg market a. -- day. matt: russia today, greece and

so much news rolling in. scarlett: the european bank agrees to give greece more money but will it prevent a run on the bank? matt: vladimir putin says all is well and he says the reason russia did not follow part after tumbling oil prices and sanctions. we have more of our exclusive interview. scarlett: from fort knox to the alamo, we have our own run on banks in the u.s. where texas is declaring it wants its goldbach. good morning. matt: let's get straight to the market check. as